Via scventures.io
Anchorpoint begins phased HKDAP stablecoin rollout for institutional users
Hong Kong's first licensed HKD-pegged stablecoin begins phase 1 deployment, backed by Standard Chartered, HKT, and Animoca Brands
Anchorpoint Financial Limited has kicked off the first phase of its HKDAP stablecoin rollout, bringing a regulated Hong Kong dollar-pegged token to institutional clients for payments and asset settlement.
HKDAP, short for HKD At Par, is one of the first stablecoins issued under Hong Kong’s Stablecoins Ordinance. Anchorpoint received its issuer license (FRS01) from the Hong Kong Monetary Authority on April 10, 2026, making it one of the first two firms to clear that regulatory bar.
The consortium behind the coin
Anchorpoint was formed in February 2025 as a joint venture involving Standard Chartered Bank (Hong Kong), telecom giant HKT, and Web3 investment firm Animoca Brands. The business model follows a B2B2C approach. Rather than selling tokens directly to retail users, Anchorpoint distributes HKDAP through authorized partners for payments, trade finance, and tokenized asset settlement.
Standard Chartered executives have been vocal about the strategic importance of regulated tokenized money. The bank sees HKDAP as infrastructure for transforming how global financial markets handle settlement, particularly across Asia’s cross-border trade corridors.
What the token actually does
Each HKDAP token is pegged 1:1 to Hong Kong dollar reserves held in segregated accounts, compliant with HKMA regulations.
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Full operational testing wrapped up on the Ethereum mainnet in May 2026. The tests covered the complete lifecycle: minting, transferring, and redeeming tokens. OSL Group and Futu Holdings participated in the testing process.
As of May 2026, no HKDAP tokens were in public circulation. The phase 1 rollout now underway marks the first time the token is being used in live institutional transactions, after the launch timeline slipped from an original Q2 2026 target to August 2026.
Why Hong Kong is betting big on regulated stablecoins
The Stablecoins Ordinance took effect on August 1, 2025, establishing one of the world’s most explicit licensing regimes for fiat-backed stablecoin issuers.
Cross-border payments and trade finance are the initial use cases Anchorpoint is targeting. For Animoca Brands, the involvement in Anchorpoint represents a different play than its usual gaming and metaverse investments. For HKT, its telecom network provides potential touchpoints for the B2B2C model to eventually reach smaller businesses.